Robinhood has introduced plans to amass Canada-based decentralized buying and selling platform WonderFi.
The all-cash deal is anticipated to shut for $179 million.
The acquisition will assist Robinhood transfer into the Canadian market.
Digital inventory brokerage app Robinhood plans to amass decentralized buying and selling platform WonderFi in an all-cash deal totaling $178.56 million (CA$250 million). The deal is anticipated to shut within the second half of this 12 months.
WonderFi was based in 2021 to assist democratize entry to digital property. The corporate, which operates regulated cryptocurrency buying and selling platforms Bitbuy and Coinsquare, serves each novice and skilled buyers. Amongst WonderFi’s providers are crypto buying and selling and staking, investor schooling, and over-the-counter transactions. Headquartered in Vancouver, Canada, WonderFi processed over $2.56 billion (C$3.57 billion) in crypto buying and selling volumes final 12 months, a 28% improve over the quantity it processed in 2023.
“By way of an extended and targeted effort, WonderFi efficiently constructed one in all Canada’s largest registered Crypto-Buying and selling platforms,” stated WonderFi Government Chairman Bobby Halpern. “This transaction is the end result of these efforts and the launchpad for Robinhood to democratize finance throughout Canada. The association gives WonderFi shareholders with all-cash consideration at a horny premium to our current buying and selling ranges.”
Robinhood will purchase all WonderFi shares for $0.25 (C$0.36) per share. The acquisition worth represents a premium of roughly 41% to the closing worth of the widespread shares on the Toronto Inventory Trade on Could 12, 2025, and roughly a 71% premium to the 30-day volume-weighted common buying and selling worth.
California-based Robinhood launched its commission-free, mobile-first buying and selling platform in 2013 to draw the most recent technology of buyers. The corporate’s app permits customers to commerce shares, ETFs, choices, and cryptocurrencies, and likewise affords wealth administration, retirement accounts, and banking providers. Robinhood serves greater than 25 million prospects with $193 billion in property below custody.
Robinhood will leverage WonderFi to speed up its worldwide enlargement, offering it with entry to WonderFi’s over 1.6 million registered Canadian customers and greater than $717 million (C$1 billion) in property below custody. Whereas Robinhood doesn’t serve any Canadian prospects, in the present day’s acquisition will enable it to leverage WonderFi’s infrastructure, licensing, and expertise navigating the Canadian regulatory setting.
“WonderFi and Robinhood are united in our visions of constructing crypto accessible and bringing extra individuals into the crypto area,” stated WonderFi President and CEO Dean Skurka. “We’re delighted to be becoming a member of the Robinhood workforce and to super-charge our product choices for purchasers.”
At present’s acquisition isn’t Robinhood’s first transfer into worldwide markets. The corporate formally launched its buying and selling platform within the UK on November 30, 2023 and doubled-down on its operations within the area after buying European trade Bitstamp for $200 million in June of 2024.
Photograph by Andre Furtado
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